Wearable Breast Pumps Market Growth Prospects And Industry Growth Rate 2022-2030

Category: Business

The global wearable breast pumps market is anticipated to reach USD 975.5 million by 2030, registering a CAGR of 8.21%, according to a new report by Grand View Research, Inc. Favorable reimbursement policies, and increasing patient disposable income are further anticipated to propel the demand for wearable breast pumps.

Wearable Breast Pumps Market

The decreasing infant mortality rate is supplementing the growth of the market. For instance, according to Knoema, the infant mortality rate in Japan fell from 13.4 deaths per 1,000 births in 1970, to 1.80 deaths in 2019. Similarly, as per Statistics Canada, the infant death rate has fallen from 4.8 per 1,000 in 2018 to 4.5 in 2020 in Canada. Such instances are expected to increase the demand for wearable breast pumps, thereby, propelling the market growth over the forecast period.

Increase in women’s employment rate is expected to be a high impact rendering driver of the market. For instance, as per International Labor Organization, the female working population in Australia has touched 60%. Similarly, as per the similar source, the female employment rate in high income countries is estimated to be 53%, whereas, the same in low income and upper middle-income countries is calculated to be 56% and 55% respectively. Working women have a relatively high disposable income, as a result can help the market impel.

The presence of various e-commerce sites offering wearable breast pumps will further aid in the sales of the products through these sales channels in the forecast period. Willow, Elvie, Medela, and Amazon, are few prominent e-commerce sites that offers substantial discounts, and prompt customer service on various wearable breast pumps, owing to which individuals prefer to shop from online sites.

The decline in the COVID-19 population is anticipated to boost market growth. Recently, many companies have called back their employees to work from office. For instance, companies such as Sun Pharmaceuticals, Biocon, and JP Morgan are planning to start work from office. This will surge the need for wearable breast pumps for working women, thereby propelling the market growth in post-COVID-19 time. Similarly, to cope with the rising demand many companies are launching new products and expanding their geographic presence. For instance, in February 2021, Medela LLC launched a new category expansion and breast care products with an aim of meeting customer requirements. This was expected to expand the customer base of the company.

Wearable Breast Pumps Market Report Highlights

• Based on components, the wearable pumps segment dominated the market with a share of 57.84% in 2021 and is also expected to witness the fastest growth rate owing to its increasing demand over the forecast period. As lactating mothers are becoming more aware of the importance and benefits of breastfeeding.

• On the basis of technology, the battery powered wearable breast pump segment dominated the market with a share of 48.64% in 2021. This can be credited to their lightweight and compact designs. Moreover, women can also easily stash them into their bags and are barely noticeable.

• North America dominated the market with the highest revenue share of 52.62% in 2021 owing to a rise in women’s employment rate in the U.S. and supportive reimbursement policies for wearable breast pumps.

Breast Pump and Breastfeeding Accessories Market Size was valued at USD 4.06 Billion in 2021 and is projected to expand at a CAGR of 7.8% during 2022 to 2030.

Wearable Breast Pumps Market Segmentation

Grand View Research has segmented the global wearable breast pumps market based on component, technology, and region:

Global Wearable Breast Pumps Component Outlook (Revenue, USD Million, 2018 - 2030)

• Wearable Pumps

• Accessories

Global Wearable Breast Pumps Product Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Manual Wearable Breast Pumps

• Battery Operated Wearable Breast Pumps

• Smart Wearable Breast Pumps

Global Wearable Breast Pumps Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.
• Canada

• Europe

• U.K.
• Germany
• France
• Italy
• Spain

• Asia Pacific

• Japan
• China
• India
• Australia
• South Korea

• Latin America

• Mexico
• Brazil
• Argentina
• Colombia

• Middle East and Africa (MEA)

• South Africa
• Saudi Arabia
• UAE
  
  

List of Key Players in Wearable Breast Pumps Market

• Medela AG

• Ameda, Inc.

• Willow Innovations, Inc.

• Philips

• Elvie (Chiaro Component Ltd)

• Freemie

• BabyBuddha Products, LLC

• Spectra

• iAPOY

• Lavie Mom

Request free sample copy of Breast Pump and Breastfeeding Accessories Industry Data Book @ https://www.grandviewresearch.com/sector-report/breast-pump-breastfeeding-accessories-industry-data-book/request/rs1

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.